Pension trustees under scrutiny

Myners report submissions highlight market concentration

By

William Hutchings

July 17, 2000 5:00 p.m. GMT

The ability of pension scheme trustees to challenge investment consultants' advice was a notable focus of the first public responses to Paul Myners' consultation on institutional investment, on behalf of the UK Treasury.

Responses were due at 5pm last Friday. Tony Watson, chief investment officer of Hermes Pensions Management, which manages the BT pension scheme, was asked to submit a personal response and had been able to negotiate a few days' extension.